HOPEWELL, Va. (AP) — A bio-energy plant in Hopeful completed in 2010 but never opened has found new life.
Virginia Gov. Terry McAuliffe announced Wednesday Vireol Bio Energy LLC will invest $26.2 million to begin production at the plant, creating 70 jobs.
The plant had been destined to be dismantled and shipped to England.
The company will produce ethanol from corn, barley and other small grains. The governor's office says it will be the largest ethanol plant on the East Coast.
Besides Vireol's investment in the plant, it will also purchase more than $100 million of grain from Virginia producers over the next three years, according to the governor's office. That totals nearly 22 million bushels of grain.
Osage Bio Energy completed the plant but decided to abandon it because of unfavorable market conditions.
Virginia Gov. Terry McAuliffe announced that Vireol Bio Energy LLC will invest $26.2 million to begin production at the plant, creating 70 jobs.